LONDON (ShareCast) - Energy efficiency group Sabien Technology warned that results for the current financial year are likely to be considerably below market expectations.
“Following a detailed review of the current order book and sales pipeline, the board now confirms that the results for the financial year ending 30 June 2007 are likely to be considerably below market expectations and the company is likely to report a loss before tax for the full year of around £0.75 million,” said the group.
The group said the time taken in converting leads into purchase orders for its M2G product is taking significantly longer than anticipated.
But during the second half year, a number of organisations have committed to the use the technology and the company.
The group also announced various other initiatives, the results of which will give it a clearer view of the likely target for the year ending 30 June 2008.